More marketers are starting to believe in advertising their brands on social networks. Facebook is expected to get the vast majority of social network ad revenues. More specifically, next year the social networking giant is expected to see $5.78 billion in ad revenue, garnering 72 percent of all social network advertising revenues and 6.1 percent of worldwide online ad spending.
In the US, Facebook will account for 7.9 percent of all online ad spending in 2012. Furthermore, Facebook is expected to pass Yahoo to become the top website in US display ad revenues this year.
This data comes from eMarketer's latest report, titled "Worldwide Social Network Ad Revenues: A $10 Billion Market by 2013." The report also notes worldwide social network ad revenues will surpass $8 billion in 2012 and approach $10 billion by 2013.
"As more companies build out their marketing presence in social networks, they are also increasing their focus on spending ad dollars there," Debra Aho Williamson, eMarketer principal analyst and the report's author, said in a statement. "Social networks have cemented their place in advertising, not just marketing. With $7 of every $10 in social network advertising flowing to the company, Facebook is taking not only a greater share than ever of social network ad spending, but also an increasing proportion of total online ad spending. Although its ad offerings and metrics aren’t perfect, marketers still feel they need to be there to reach their target audience."
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